Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0108%/8h= −11.9% APRpaid last 24h −0.024%

Price spread now: Deribit against KuCoin+0.040%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on KuCoin Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread pays, funding is against you. Deribit is 0.040% dearer against KuCoin than usual: you sell high and buy low (spread +0.040% now, against zero (this spread has no 7-day history yet)): +$4 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 29 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin MSFTUSDTM	503.08	0.0100	pay 0.0100% / 8h	2m 36s	$1.6M	$79K	20x
Short	Deribit MSFT_USDC-PERPETUAL	503.28	−0.0008	pay 0.0001% / 1h	2m 36s	$27K	$44K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against KuCoin. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee KuCoinbpFee DeribitbpOrdersPrice spread, now +0.040%Rate

Funding earned: −$22.73
Price spread: +0.040% → 0.000%: $3.98
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$37.75
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: KuCoin: live order book, 3 min ago; Deribit: no order-book sample. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy KuCoin live order book, 3 min ago	7.65 bp	40.8 bp −$41	doesn't fit	doesn't fit	doesn't fit
Sell Deribit no order-book sample	—	—	—	—	—

Deribit: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

MSFT on 34 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX MSFTUSDC	−0.0585%	4h	503.54	+0.092%	$102K	$243K	10x	as long as short
Nado MSFT-PERP	−0.0059%	1h	503.44	+0.072%	$414K	$67K	20x	as long as short
tradeXYZ xyz:MSFT	−0.0011%	1h	503.08	0.000%	$22.4M	$8.8M	20x	as long as short
Deribit MSFT_USDC-PERPETUALshort	−0.0008%	1h	503.28	+0.040%	$27K	$44K	10x
Aster MSFTUSDT	0.0000%	8h	503.59	+0.101%	$162K	$114K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	503.58	+0.098%	$339K	$1.9M	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	503.72	+0.126%	$15.8M	$19.1M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	503.44	+0.072%	$7.2M	$2.3M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	503.82	+0.147%	$3.0M	$2.4M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	503.34	+0.052%	$3.1M	$1.9M	100x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget MSFTUSDT	0.0000%	8h	503.56	+0.095%	$3.8M	$2.9M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	503.54	+0.091%	$1.3M	$401K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	503.57	+0.097%	$18K	$321K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	504.34	+0.250%	$6K	$3.8M	20x	as long as short
Coinbase International MSFT-PERP-INTX	0.0000%	1h	503.07	−0.002%	$687K	$454K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	503.46	+0.076%	$59K	$225K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	503.72	+0.127%	$2.2M	$817K	10x	as long as short
BloFin MSFT-USDT	+0.0008%	8h	503.57	+0.097%	$191K	$206K	20x	as long as short
Lighter MSFT	+0.0032%	1h	503.52	+0.087%	$1.2M	$532K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	503.37	+0.058%	$706K	$1.9M	20x	as long as short
QFEX MSFT-USD	+0.0037%	1h	503.61	+0.105%	$1.1M	$4.6M	10x	as long as short
Arcus MSFT-USD	+0.0040%	1h	503.29	+0.042%	$97K	$110K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	503.64	+0.111%	—	$1K	25x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	503.22	+0.028%	$303K	$717K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	503.35	+0.054%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	503.14	+0.012%	$512K	$428K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0052%	8h	503.46	+0.076%	$222	—	5x	as long as short
Phoenix MSFT	+0.0064%	1h	503.28	+0.040%	$11K	$15K	20x	as long as short
Hotstuff MSFT-PERP	+0.0088%	1h	503.05	−0.006%	$32K	$8K	20x	as long as short
KuCoin MSFTUSDTMlong	+0.0100%	8h	503.08	long leg	$1.6M	$79K	20x
ApeX Omni MSFTUSDT	+0.0100%	1h	503.21	+0.026%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	503.41	+0.066%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	503.42	+0.068%	$55	—	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	503.80	+0.143%	$115K	$45K	30x	as long as short